Malaysians buying cars at younger age

BUKIT JALIL – Urban Malaysians generally own cars while they are still studying as opposed to people in other countries who usually buy their first car only after they have started working.

“A typical household of four would probably own at least two cars and if the children are 18 and above, there will likely be more than two cars,” said Transport Minister Datuk Seri Kong Cho Ha at the launch of the Star Motoring Carnival yesterday.

He added that buying a car was the second most valuable investment for most Malaysians who pay a lot of attention to detail before buying a vehicle.

“So, getting something that suits our taste and budget is vital as we want to get the best value,” he said.

According to Kong, automobile sales in the country has been predicted to hit an all-time high this year.

He added that the Malaysian Automotive Association has forecast that the total industry car sale volume could hit 615,000 units in 2012.

“If achieved, it would be a new record for the country,” said Kong adding the momentum of car sales has risen with the country’s expanding economy.

Kong added that statistics showed there are 22.18 million registered vehicles nationwide as of July 31 this year.

Out the number, 45 per cent are cars, another 45 per cent motorcycles and the remaining 10 per cent vehicles such as vans and taxis.

“The Road Transport Department (RTD) reportedly registered a total of 136,394 vehicles in July alone.

“This is a fantastic sign of our country’s growing economy, buying power and status in the international automotive industry,” said Kong.

The inaugural Star Motoring Carnival, jointly organised by The Star and Cityneon Malaysia, brings together industry players to showcase their latest and best products.

The carnival aims to provide a platform for prospective buyers to find the best bargains for vehicles and various auto-related accessories.

Sponsored by Petronas Dagangan Berhad, the carnival which opened yesterday will run until Sept 17 and opens daily from 11am to 10pm.

Admission is free for the event which is showcasing over 40 established industry players such as Proton, Perodua, Toyota, Mitsubishi, Honda, Nissan, Mazda, Hyundai, Volkswagen, Daihatsu, and Ford among others.

“The Malaysian automative industry is one of the nation’s major industrial sectors which ranks among the top 20 in the world.

“It was truly a national pride when we introduced the Proton Saga in the mid 1980s and subsequently Perodua,” said Star Publications (M) Bhd group managing director and chief executive officer Ho Kay Tat.

He elaborated that both have gone on to dominate the local automotive industry since.

The carnival is supported by Star Rev and its online companion starmotoring.com, which comes under the Star Media Group. – Asia One